Scandinavian Working Papers in Economics

Memorandum,
Oslo University, Department of Economics

No 02/2008: Discontinuous control systems

Atle Seierstad () and Sigve D. Stabrun
Additional contact information
Atle Seierstad: Dept. of Economics, University of Oslo, Postal: Department of Economics, University of Oslo, P.O Box 1095 Blindern, N-0317 Oslo, Norway
Sigve D. Stabrun: Storebrand, Postal: Postboks 1380 Vika , N-0114 Oslo, Norway

Abstract: By means of some simple examples from economics, we elucidatecertain solution tools for the solution of optimal control problems were the system under study undergoes major changes when certain boundaries are crossed. The "major changes" may be that the state gets a jump discontinuity when crossing a boundary, or that the right hand side of the differential equation changes. Some theoretical result are presented. Among the results presented, at least the sufficient condition related to fields of extremals should be new.

Keywords: control; systems

JEL-codes: C00

34 pages, February 8, 2008

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